On January 1,2018, the Prepaid Insurance account of Dogwood Company had a beginning balance of $1,800. Three months of insurance premiums remain in this beginning balance. On February 21, 2018, the company paid an annual insurance premium in the amount of $3,900 for the period beginning March 1. On February 28, 2018, the balance in Prepaid Insurance is $1,200. O True False